Warner Music Group Reports $1.73B in Calendar Q1 2026 Revenue

Warner Music Group (WMG) reported $1.732 billion in global revenue for the three months ending March 31, 2026, a 12.1% year-over-year increase at constant currency. Recorded music revenue rose 12.7% to $1.38 billion, driven by subscription streaming growth of 12.7% to $734 million and ad-supported streaming up 10.2% to $227 million. Music publishing revenue at Warner Chappell Music increased 9.6% to $353 million. Net income surged to $181 million from $36 million in the prior-year quarter, while operating income rose 45.1% to $264 million. Adjusted OIBDA reached $397 million, up 24.5%. CEO Robert Kyncl attributed the results to strategic transformation, and CFO Armin Zerza highlighted margin expansion and cash flow productivity. Top sellers included Bruno Mars, Alex Warren, sombr, Ed Sheeran, and Melanie Martinez. The quarter benefited from subscription price increases at major platforms like Spotify, which raised its US Premium price to $12.99 per month in February. Excluding a digital revenue settlement and the termination of a distribution agreement with BMG, total revenue growth was 13.4%.